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' @!13.gr.    0staWorWanna?93/22/EBEum_fjrfestingarYj;nustu_ԀsviWi_verWbrfaviWskipta_ kemur: `  2004/39/EBummarkaWimeW_fjrmlagerninga_. S+! Ѐ@ II.KAFLI #    Breytinglgumnr.87/1998,umopinberteftirlitmeWfjrmlastarfsemi,  $ meWsWaribreytingum. !W%  14.gr. J""& a  8._tlul_.1.mgr.2.gr.lagannaorWastsvo:_kauphalla_,_skipulagWra_Ԁ_verWbrfamarkaWa_Ԁog #' _markaWstorga_Ԁ_fjrmlagerninga_Ԁ(_MTF_). #(   $ ) _&   @ggIII.KAFLI ( @Y Y  InnleiWingoggildistaka.   @!15.gr.  @mmInnleiWing. a   LgYessifelasrinnleiWingutilskipunEvr;puYingsinsogrWsins2004/39/EBfr21. T, aprl2004ummarkaWifyrirfjrmlagerningaogumbreytingutilskipunumrWsins'(85/611/  EBEog93/6/EBEogtilskipunEvr;puYingsinsogrWsins2000/12/EBogumniWurfellingu  tilskipunrWsins93/22/EBEeinsoghnvartekinuppsamninginnumEvr;pska   efnahagssvWiWmeWkvrWunsameiginleguEES-nefndarinnarnr.65/2005fr29.aprl  X 2005. K #  @!16.gr.      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MeWhliWsj;nafumrddukvWi_MiFID_ԀYykirY;rttaraaWkveWaumYettaatriWi  $ beintlgunumsjlfum. !W% @Um.5.gr. #'   03.mgr.14.gr.laganr.161/2002kemurframaWhlutaf_verWbrfafyrirtkis_Ԁskulinema #( aWlgmarki65millj;numkr;naY;aldreilgrifjrhWennemur730Ysund_evrum_Ԁs $ ) lenskumkr;num.XessarkrfureruhinsvegarekkifyllilegasamrmiviWtilskipun v%N!* 2006/49/EBum_eiginfjrkrfur_Ԁ_fjrmlafyrirtkja_,sbr.einnig_MiFID_Ԅtilskipunina.0_MiFID_ A&"+ kemurYannigfram12.gr.aWverWbrfafyrirtkiskulihafafullngjandieigiWfsamkvmt  '", krfum_tilskipunar_Ԁ93/6/EBaWteknutillititilYeirrarstarfsemisemfyrirtkisinni.Tilskipun '#- _2006/49/EBleystiafh;lmitilskipun93/6/EB.0framangreindufelstm.a.aWverWbrfa ( fyrirtkigetahaftmismunandimikiWeigiWfeftirYvhverskonarstarfsheimildirYauhafa.    05.gr.tilskipunar2006/49/EBkemurframaWverWbrfafyrirtkisemhefurekkistarfs  heimildirtilaWstundaviWskiptifyrireiginreikningeWasinnaslutryggingufjrmlagerninga a enfermeWvrslurfjrmunaeWafjrmlagerningaviWskiptavinarsamtYvaWhafaeinaaf T, eftirfarandistarfsheimildum:a)m;ttkuogmiWlunfyrirmlafrviWskiptavinumumeinn  eWafleirifjrmlagerninga,b)framkvmdfyrirmlafyrirhndviWskiptavinaeWa,c)eigna  stUringu,skuliaWlgmarkihafahlutafaWfjrhW125Ysundevra.ErlagttilaWsamsvar   andireglastekinuppnUrri4.mgr.14.gr.laganna.0samrmiviWtilskipuninamiWastfjr  X hWarmrkinviW11millj;nirkr;naenY;aldreilgrifjrhWen125Ysundevrurs K #  lenskumkr;num.      0gildandi4.mgr.14.gr.kemurframaWeigiWfverWbrfamiWlunarmeWheimildtilviW    skiptafyrireiginreikningskulinemaaWlgmarki11millj;numkr;naeWasemsamsvarar   125Ysundevrum.XaWsamrmisthinsvegarekkikvWum5.gr.tilskipunar2006/49/EB, wO  sbr.9.gr.,enafYessumkvWumleiWiraWfyrirtkjummeWheimildirtilviWskiptafyrireigin B  reikningberaWhafaaWlgmarki730YsundevrureigiWf.MeWhliWsj;nafYeimbreyting    umsemhrerulagWartilYyrftufyrirtkisemhyggjastverameWviWskiptifyrireigin   reikningYvaWfallaundirYaWaWveraverWbrfafyrirtki. {    0inngangsorWumMiFIDtilskipunarinnarkemurfram24.gr.aWYarsemtiltekinfyrirtki nF suundanYegintilteknumkvWumtilskipun2006/49/EBttuYauannaWhvortaWhafa 9 tiltekiWeiginfjrhlutfalleWahafastarfsbyrgWartryggingueWasamblandafhvorutveggja.Er  vikiWaWYessumYremurmguleikum7.gr.tilskipunar2006/49/EBvarWandifyrirtkisem  erumeWstarfsheimildirtilfjrfestingarWgjafarog/eWam;ttkuogmiWlunfyrirmlaviW r skiptavinanYessaWfarameWvrslufjrmunaeWafjrmlagerningYeirra.ErhrlagttilaW e= farinssleiWaWslkfyrirtkikallistverWbrfamiWlanirogaWskrafasgerWaWfyrirtkin 0 hafiaWlgmarkieigiWfsemnemur4,5millj;numkr;na,Y;aldreilgrifjrhWensem  nemur50Ysundevrum,sbr.a-liWgr.7.gr.tilskipunarinnar.Jafnframtmndugildafram  kvWi26.gr.umstarfsbyrgWartryggingar. i   Af9.gr.tilskipunar2006/49/EBleiWirm.a.aWnnurfyrirtkienYausemvikiWeraW \4 5.og7.gr.tilskipunarinnar,sbr.tillguaWnUjum4.og5.mgr.14.gr.laganna,skulihafaaW ' lgmarkihlutafernemur65millj;numkr;naenY;aldreilgrifjrhWennemurjafnvirWi  730Ysundaevraslenskumkr;num.UndirYessakrfumundut.d.fallaverWbrfafyrirtki  semhafastarfsheimildirtilviWskiptafyrireiginreikning,slutryggingarogrekstursmark `  aWsstorgsfjrmlagerninga(MTF).SlkfyrirtkigtuvitaskuldjafnframtveriWmeWaWrar S+! starfsheimildirYarsemkrafisterlgraeiginfjrhlutfalls,sbr.hraWframan,enYaWmundi " ekkibreytaYvaWYreiginfjrkrfursemmunduverWagerWartilYeirravru65millj;nir # kr;na.Ngildandi3.mgr.14.gr.lagannamundinyfirYessifyrirtki.  $   0b-liW5.gr.frumvarpsinserlagttilaWviW14.gr.lagannabtistnUmlsgreinsemkveWi !W% umaWFjrmlaeftirlitinusheimiltaWsetjannarireglurskv.14.gr.EfstWaYykirtil J""& gtiFjrmlaeftirlitiWYvm.a.tfrtfrekartiltekinheimildarkvWivarWandieiginfjr #' krfurII.kaflatilskipunar2006/49/EB. #( @ Um6.gr. v%N!*   01.mgr.greinarinnarerkveWiWumstarfsheimildirverWbrfafyrirtkja.Mlsgreinin A&"+  byggistA-ogB-YttiviWaukaIviWMiFIDtilskipunina.GreininereinsuppbyggWog25.  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"   02.tlul.1.mgr.greinarinnarerkveWiWumYaWhvaWastarfsemitelsttilviWb;tarYj;n # ustutengslumviWverWbfaviWskiptisemvikiWeraW1.tlul.kvWiWbyggistB-Ytti  $ viWaukaIviWMiFIDtilskipunina. !W%   0a-liW2.tlul.1.mgr.erkveWiWumaWvarslaogstj;rnuntengslumviWeinneWafleiri J""& fjrmlagerningafyrirreikningviWskiptavinar,Y.m.t.varslafjrmlagerningaogtengd #' Yj;nusta,svosemvegnafjrmunaeWatrygginga,teljisttilviWb;tarYj;nustu.Hrundirmundi #( m.a.fallavarslahlutabrfumviWskiptavinar,hvortsemYauerurafrntskrWeWaekki. $ ) AthygliskalvakinYvaWryggisvarslafjrertilgreindsrstkumliW,Y.e.b-liW2.tlul. v%N!* 25.gr.gildandilgum.TeljaverWurhinsvegaraWryggisvarslafjrrmistinnanYessarar A&"+ skilgreiningarogerYv;YarftaWtilgreinahanasrstkumliW.ErYvlagttilaWnverandi  '", b-liWur2.tlul.25.gr.falliniWur. '#-   0tillguaWb-liW2.tlul.1.mgr.er;breyttkvWifrc-liW2.tlul.25.gr.gildandalaga. ( XarerkveWiWumveitingulnsheimilda,byrgWaeWalnatilfjrfestisYannigaWhanngeti  ttviWskiptimeWfjrmlagerningaeffjrmlafyrirtkisemveitirlnsheimildinaeWalniW  kemuraWviWskiptunum. a   0tillguaWc-liW2.tlul.1.mgr.erkveWiWumaWrWgjftilfyrirtkjaumuppbyggingu T, eiginfjr,stefnum;tunogskyldmlogrWgjfogYj;nustuvarWandisamrunafyrirtkjaog  kaupYeimteljisttilviWb;tarYj;nustu.ErkvWiW;breyttfrd-liW2.tlul.25.gr.gildandi  laga.     0tillguaWd-liW2.tlul.1.mgr.er;breyttkvWifre-liW2.tlul.25.gr.gildandalaga  X umaWYj;nustatengslumviWslutrygginguteljisttilviWb;tarYj;nustu.Hrundirmundit.d. K #  fallaaWaWstoWatgefendaverWbrfameWaWtfraeinhvertiltekinskilyrWitengslumviW    tboW,annastgerWlUsingareWannurpraktsktatriWi,svosemannasttilkynningarseWlaog    greiWslur.     0tillguaWe-liW2.tlul.1.mgr.er;breyttkvWifrg-liW2.tlul.25.gr.umgjaldeyris wO  Yj;nustuefumrddviWskiptieruliWurfjrfestingarYj;nustu. B    0tillguaWf-liW2.tlul.1.mgr.eraWfinnanUmlienYarerlagttilaWfjrfestingarrann    s;knirogfjrmlagreiningareWaannarskonaralmennarrWleggingarertengjastviWskiptum   meWfjrmlagerningateljisttilviWb;tarYj;nustu. {  & a   0tillguaWg-liW2.tlul.1.mgr.eraWfinnanUmlienYarerkveWiWumaWYj;nusta nF semtengistundirliggjandiYttumafleiWu,sbr.eogh-liWi2.tlul.2.gr.frumvarpstillaga 9 'an=umverWbrfaviWskipti,teljisttilviWb;tarYj;nustuefhnertengslumviWverWbrfaviW  skiptin.DmiumundirliggjandiYttiafleiWusamkvmtYessumliWmnefnahrvrurog  losunarkv;ta.SlkYj;nustavrioftasttengslumviWafleiWuviWskiptiYarsemafleiWur r tengdustslkumYttum. e= & a   LagttilaWviWgildandi25.gr.lagannabtisttvrnUjarmlsgreinar.Sfyrrifjallarum 0 heimildirverWbrfafyrirtkis,semfellurundir4.mgr.14.gr.laganna,meWleyfitilaWfram  kvma'a0,fyrirmlivarWandifjrmlagerningafyrirhndviWskiptavina,tilaWvarWveitaslka  fjrmlagerningafyrireiginreikningsutiltekinskilyrWiuppfyllt.kvWiWbyggist2.mgr. i 5.gr.tilskipunar2006/49/EB.XettakvWimundiaWnokkruleytikomastaWngildandi \4 2.mgr.26.gr.laganna.AfYessukvWileiWiraWumsaWrWabrWabirgWaaWgerWirYar ' semekkihafitekistaWmtafyrirmlumviWskiptavinameWfullngjandihtti.SlkarstWur  megaekkistandayfirlengurentekuraWljkaYvaWframkvmafyrirmlinmeWfullngj  andihtti.JafnframterugerWarkrfurumaWslkarstWurfariekkiyfir15%afhlutafverW `  brfafyrirtkisaukYesssemtakaverWurtillittilreglnaumeignarhlutifyrirtkjum,st;rar S+! htturogeigiWf. "   0sWarimlsgreininnierkveWiWumaWverWbrfafyrirtkjumsheimiltaWtakastWur # fjrmlagerningumutanveltub;karYvskyniaWvaxtaeigiWfverWbrfafyrirtkis.Hr  $ erumaWrWastWursemteknarerutillengritmaoghugsaWarsemeWlilegvxtuneigin !W% fjr.SlkarstWurmunduekkiteljasttilviWskiptatengslumviWYj;nustuYttiskv.a,bog J""& d-liWum1.tlul.1.mgr.25.gr.,sbr.4.mgr.14.gr.,sbr.2.undirmlsgrein2.mgr.5.gr.til #' skipunar2006/49/EB. #( @ Um7.gr. v%N!*   0greininnifelasttvrbreytingar1.mgr.26.gr.laganna.AnnarsvegarerlagttilaW A&"+ kveWiWverWiumaWundirstarfsheimildirverWbrfamiWlanafallifjrfestingarrWgjfog/eWa  '", milligangaumkaupogslufjrmlagerninga.HinsvegaraWkveWiWsumaWverWbrfa '#- miWlunsekkiheimiltaWeigaviWskiptifyrireiginreikning.HelgastbreytingarnarafYeim ( breytingumsemerulagWartil5.gr.frumvarpsins.    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" grundvelligildandi52.gr.lagannahefurFjrmlaeftirlitiWYegarkomiWuppYeirrifram # kvmdaWkallaeftirtilteknumupplUsingumfrstj;rnarmnnumogframkvmdastj;rum  $ viWmathfiYeirrasemogYegarbreytingarverWaskipanslkraaWila.UmrttkvWi !W% breytirYeirriskipanekkienupptkukvWisinsleiWirafMiFIDeinsogWursegir. J""& @rrUm10.gr. #(   0YessarigreinfrumvarpsinserekkiumefnisbreytinguaWrWaenbreytinginerlgWtil $ ) vegnabreytingaliWum1.tlul.25.gr.laganna.UndanYeginmatirekstrarhttuskv.2. v%N!* mgr.84.gr.lagannaeruverWbrfafyrirtkisemekkihafastarfsheimildirskv.b-liW(viWskipti A&"+ fyrireiginreikning)ogd-liW(slutrygging)1.tlul.25.gr.,verWbrfamiWlanirsemekkihafa  '", heimildirtilviWskiptafyrireiginreikningogrekstrarflgverWbrfasj;Wa.VerWi_frumvarp '#- YettaaWlgumverWasambrilegkvWic-liW(viWskiptifyrireiginreikning)ogf-liW(_slu ( trygging_ԀtengslumviWtgfuog/eWatboW_fjrmlagerninga_)1._tlul_.25.gr.,sbr.einnig  e-liW6._tlul_.1.mgr.3.gr.AWWruleytivsasttilskUringaviWaliW1.gr.frumvarpsins.  @rrUm11.gr. 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